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2025-07-28 19:17:33
[As the RBA's expectations of rate cuts rise, the Australian dollar bulls are "disbanded", and the next target is the 0.65 mark? ] ⑴ Against the backdrop of stronger US assets and rising US dollar and US bond yields, the Australian dollar's bullish rebound against the US dollar was frustrated. ⑵ The Australian dollar was sold off after rebounding to 0.6587 overnight, falling to 0.6516 during the European trading session and opening at 0.6530 near the New York session, down 0.55%. ⑶ Technically, the Australian dollar has fallen below the 10-day and 21-day moving averages against the US dollar. ⑷ The momentum indicator RSI is declining and forming an inverted hammer pattern at the daily level. These signals are bearish. ⑸ In terms of commodities, the decline in copper and iron ore prices also weighed on the Australian dollar. ⑹ The market's focus will turn to the US employment report and the Federal Reserve meeting to be released later this week. ⑺ These events may provide new guidance for the future trend of the Australian dollar against the US dollar, and traders need to be vigilant to potential fluctuations.
